DW's Blog

Misused Resources

by DW Green — August 23, 2017

Success depends on the trade-offs

I remember reading the following many years ago. It made sense then and makes more sense today. “Because you can’t be everything to all people successfully, you must purposefully limit what you offer and to whom. Choices about what not to do are just as important as choices about what to do. Your success depends on the trade-offs you are willing to make.”

In the context of brick and mortar retailing versus online retailing the above quote is even more telling. Each retail format has its own competitive advantage. And since both operate with limited resources, decisions on how best to utilize those resources that support their competitive advantage is critical. Technology investment must also support the customer shopping experience, whether in-store or online.

Often times retail storeowners misuse resources on activities that do not directly enhance their unique customer experience advantage.